CreditMarket Cash Loan Index: mean effective rate is down to 116.46%

January, 24 2012 11:20
Index.KreditMarket

CreditMarket Cash Loan Index reduced by 16.15%, to 116.46%. The information is as of 24 Jan 2012.

Vladimir Kompaniets, Operations Director at KreditMarket: “We believe that a downswing of CreditMarket Cash Loan Index by 16.15% (from 132.61%, to 116.46%) is connected with a recovery of mean effective rates to their actual market level. The New Year holidays are over, and the time of increased demand that people are ready to take more expensive loans is over too. For two weeks since the previous calculations, three banks have changed their terms and conditions for cash loans, and one of them decreased the cost of loans for customers. We forecast a possibility of insignificant fluctuations in the effective rate for this credit type in the short-term.”

Information

CreditMarket Cash Loan Index is calculated on the basis of cash loans without collateral granted for 1 year. The redemption scheme – is annuity, in case of no proposals - a serial loan. Currency – UAH. Amount – UAH8,000.